Affichage retains control of all branches in Romania
Affichage continues to hold 100 percent of the shares in its Romanian subsidiaries. The former minority shareholder of the Romanian subsidiaries did not exercise its call option in this regard.
In December 2011, Affichage Holding acquired all of the 30 percent of the shares in the Romanian branches held by the minority shareholder at the time, thereby becoming their sole shareholder, Affichage said in a statement on Monday. At the time, the seller was granted a call option for all shares in the Romanian branches, exercisable between January 1 and March 31, 2012.
The seller did not exercise the purchase option within the period granted. As a result, Affichage Holding retains full control over all stores in Romania and is now free to decide on its future strategy with regard to these investments.
